The stock of Syria explorer Emerald Energy soared 5.4 percent Monday after the company announced it was now producing 150 percent more than in the second quarter of 2008 and has reached 4,213 barrels per day.

The company’s stake in the Khurbet East field in Syria was strengthened by 500,000 barrels of production in September, or 11,500 bpd.

Meanwhile, a pressure-monitoring programme at Khurbet showed reservoir properties “may be more favourable that previously estimated”.

“This information, combined with presence of only trace amounts of water in the production recorded to date suggests that the current estimate of proved plus probable reserves may be understated,” a statement said, adding that a recent reserves study will have to be re-done.

Tags: Emerald Energy Plc